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THE STATE BANK OF VIETNAM

DECISION No.15/2000/QD-NHNN4 OF JANUARY 11, 2000 PROMULGATING THE REGULATION ON THE STATE BANK’S CONTROLLERS

THE GOVERNOR OF THE STATE BANK OF VIETNAM

Pursuant to December 12, 1997 Law on the State Bank of Vietnam;

Pursuant to the Government’s Decree No.15/CP of March 2, 1993 on the tasks, powers and State management responsibilities of the ministries and ministerial-level agencies;

Pursuant to Decision No.418/TCCP-VC of May 29, 1993 of the Government Commission for Organization and Personnel promulgating the professional qualifications of banking officials’ ranks;

At the proposals of the Director of the Department for Organization, Personnel and Training and the Director of the General-Control Department of the State Bank,

DECIDES:

Article 1.- To promulgate together with this Decision the Regulation on controllers of the State Bank.

Article 2.- This Decision takes effect 15 days after its signing and replaces Decision No.283/QD-NH4 of December 18, 1992 of the State Bank Governor promulgating the Regulation on the State Bank’s controllers.

Article 3.- The Director of the Office, the Director of the Department for Organization, Personnel and Training, the Director of the General-Control Department, the heads of the units attached to the State Bank, and directors of the State Banks’ branches in the provinces and centrally-run cities shall have to implement this Decision.

State Bank Governor
LE DUC THUY

REGULATION ON THE STATE BANK’S CONTROLLERS

(Promulgated together with the State Bank Governor’s Decision No.15/2000/QD-NHNN4 of January 11, 2000)

Chapter I

GENERAL PROVISIONS

Article 1.- The State Bank’s controllers are professional State employees who exercise the control of operations of units belonging to the State Bank’s system; and conduct the internal audit of the units performing the Central Bank’s professional operations.

Article 2.- The State Bank’s controllers are arranged at the Central State Bank (the General-Control Department and some other departments and sections), the State Bank’s provincial/municipal branches.

Controllers at departments, sections and branches of the State Bank shall be subject to direct management and instruction by heads of such units in terms of organization and labor and to the professional direction by the General-Control Department.

Article 3.- Ranks of the State Bank’s controllers include: controller, principal controller and senior controller. The State Bank’s employees eligible for being appointed to different ranks of controllers must be possessed of good political and ethical qualities; have high sense of responsibility and be honest and objective when performing their tasks.

Chapter II

TASKS AND PROFESSIONAL QUALIFICATIONS OF RANKS OF THE STATE BANK’S CONTROLLERS

Article 4.- The State Bank’s controllers:

1. Specific tasks:

a/ To work out controlling and auditing plans within the ambit of their respective assigned tasks, ensuring that the control and audit of all operations of the State Bank are conducted in a strict and effective manner.

b/ To personally carry out the regular and irregular control as well as periodical audits of the observance of the policies, regimes and regulations applicable to various operations of the State Bank within the ambit assigned to them. To make written control and audit records; to recommend and propose measures to remedy and handle violations and errors and take personal liability for their proposals.

c/ To review, evaluate and draw experience from the activities of controlling and auditing various aspects of the State Bank’s operation within the ambit of their respective assigned tasks.

d/ To approve the control and audit results, recommend and propose amendments and supplements to the professional regulations and regimes, as well as management measures to prevent violations.

e/ To make and submit reports on control and audit results to the competent authority(ies) according to regulations; to propose measures to well perform the control and audit works.

2. Knowledge:

a/ Grasping the guidelines, policies and legislation related to the banking activities.

b/ Grasping the State administrative management principles and procedures.

c/ Mastering the monetary, credit, payment and banking principles, regimes and operations.

d/ Mastering the professional control operation, being capable of analyzing, synthesizing and evaluating all aspects of the professional operations of a unit.

e/ Being capable of practicing the control and audit operations.

3. Required qualifications:

a/ Having graduated from an economics, finance or banking university.

b/ Having been trained in control and/or audit professional fostering courses with contents and curricula set by the State Bank.

c/ Having knowledge of a foreign language, at least at level A.

d/ Having worked in the banking service for 3 years or more.

Article 5.- The State Bank’s principal controllers:

1. Specific tasks:

a/ To work out working programs and assume the prime responsibility for the control and audit within the ambit of their respective assigned tasks, thus contributing to raising the safety coefficient in the operation of the State Bank’s system.

b/ To organize, direct and personally carry out the regular and irregular control and periodical audit, ensuring the implementation of the regulations, rules and regimes in all banking operation aspects within their assigned power ambits. To make written control and audit records; to recommend and propose measures to remedy and handle violations and errors and take personal responsibility for their proposals.

c/ To take part in the elaboration of control and audit professional processes, as well as mechanisms and regulations on banking activities.

d/ To make reports on results of control and audit work; to review, evaluate and draw experience from the control and audit work within their assigned ambits, thereby to propose amendments and supplements to the State Bank’s operation and management mechanisms, in order to improve them.

e/ To take part in the compilation of documents and teaching materials in service of the professional training and fostering of controllers.

2. Knowledge:

a/ Firmly grasping undertakings, guidelines and policies of the Party and the legislation of the State related to banking activities.

b/ Firmly grasping the State administrative management principles and procedures.

c/ Comprehending the actual socio-economic situation’s impacts on banking activities, thereby to propose contents that need to be controlled and/or audited to enhance the role of the State Bank.

d/ Mastering the professional principles and regimes on monetary, credit, payment and banking operations.

e/ Mastering the control and audit professions, being capable of practicing, guiding and administering the control and audit activities, and members of control and/or audit delegations; and examining the controllers’ conclusions.

f/ Being capable of analyzing, synthesizing and evaluating various aspects of operation of a unit or a management domain of the State Bank.

g/ Being capable of organizing the performance of control and audit requirements.

3. Professional qualifications:

a/ Being graduates and post-graduates from an economics, finance or banking university.

b/ Having been controllers and having worked in the rank of expert or controller for 9 years.

c/ Having been trained at courses for fostering economic management and State administrative management knowledge.

d/ Having been trained at courses for fostering and raising the professional skills in the control and audit according to contents and curricula set by the State Bank.

e/ Having their creative plans for control of banking activities, which have been recognized and effectively applied.

f/ Having knowledge of a foreign language, at least at level B.

g/ Having graduated from a basic informatics course.

Article 6.- The State Bank’s senior controllers:

Senior controllers shall be arranged only at the Central State Bank and the State Bank’s branches in the provinces and grade I-cities.

1. Specific tasks:

a/ To work out working plans and programs for controlling and auditing operation aspects of the State Bank, and cases with relatively complicated details.

b/ To organize, direct and guide the performance of the control and audit of various aspects of the operation of the State Bank according to the Law on the State Bank of Vietnam.

c/ To organize and assume the prime responsibility for the control and audit of cases related to many domains of banking activities.

d/ To personally carry out regular and irregular controls and periodical audits of the observance of the regulations, rules and mechanisms in the State Bank’s system in a comprehensive manner. To make written control and audit records; to propose and recommend measures to remedy and handle violations and errors, and take personal responsibility for their proposals.

e/ To assume the prime responsibility for or take part in the elaboration of mechanisms and regulations on banking activities, as well as control and audit professional processes.

f/ To assume the prime responsibility for the compilation of documents and working out of contents and curricula of control and audit professional training and fostering courses for the State Bank’s controllers.

g/ To assume the prime responsibility for branch-level scientific research projects on control and audit operation.

h/ To review, evaluate and draw experience from the control and audit works, and thereby to propose amendments and supplements to the banking policies and professional regimes.

2. Knowledge:

a/ Firmly grasping the Party’s guidelines, undertakings and policies and the State’s law and strategic objectives of socio-economic development in each period related to the banking activities.

b/ Mastering and acquiring a great deal of experience from monetary, credit, payment and banking professional domains.

c/ Having experience in the control and audit professional activities.

d/ Being capable of reviewing and studying the control and audit of banking activities.

e/ Being profoundly knowledgeable about the socio-economic situation related to banking activities.

f/ Mastering the professional operations of controlling and auditing banks in the country and in the world.

3. Required qualifications:

a/ Having graduate or post-graduate degree from an economics, finance or banking university.

b/ Having been principal controllers and having worked at the rank of principal expert and principal controller for 6 years.

c/ Having been trained at courses for fostering professional skills of senior banking controllers and auditors.

d/ Having gone through State administrative management training courses for senior experts.

e/ Having research projects or creative synchronous plans recognized by a branch-level scientific council and effectively applied.

f/ Having knowledge of a foreign language, at least at level C.

g/ Being furnished with a high level of theoretical politics.

Article 7.- Appointment, dismissal, promotion and rank transfer of the State Bank’s controllers

1. The appointment, dismissal, rank promotion and transfer of the State Bank’s controllers and principal controllers shall be decided by the State Bank Governor.

2. The appointment, dismissal, rank promotion and transfer of the State Bank’s senior controllers shall be decided by the Minister-Head of the Government Commission for Organization and Personnel.

3. The rank promotion of the State Bank’s controllers must be effected through rank promotion examinations as prescribed.

4. Dismissed controllers shall not be re-appointed.

Article 8.- The State Bank Governor shall uniformly manage the ranks of controllers within the State Bank’s system. The transfer of controllers to other tasks must be approved in writing by the State Bank Governor.

Chapter III

RESPONSIBILITIES, POWERS AND INTERESTS OF THE STATE BANK’S CONTROLLERS

Article 9.- Responsibilities of controllers

1. In the course of performing their tasks, controllers shall act independently and abide only by law; observe the professional principles and standards and the policies and regimes of the State and the State Bank. No agency, organization or individual is allowed to illegally intervene in the controllers’ activities.

2. To ceaselessly elevate their professional capability and update their knowledge and preserve professional ethics in the course of control and audit; to hold up the independence, objectiveness and honesty and keep the State secrets according to the provisions of law.

3. To be responsible for the reasonability, accuracy and objectiveness of their control and audit reports as well as their conclusions and proposals therein. To report to the competent authority(ies) the control and audit results and propose remedial measures.

Article 10.- Powers of controllers

1. To request the controlled and/or audited units to provide information and documents in service of the control and audit activities; and request the heads of such units to take measures to remedy detected errors and handle individuals who have committed acts of impeding the performance of control and audit activities.

2. Controllers shall be entitled to enter money stores belonging to the State Bank’s system for control and supervision purposes according to their assigned functions and tasks.

3. Controllers may reserve their opinions presented in their control and audit reports; and request the competent authority(ies) to re-consider their decisions to discipline or dismiss them as controllers.

4. Principal controllers and senior controllers may decide to cease the implementation of, or propose the competent authority(ies) to annul the inspected and audited units’ regulations, which are contrary to the undertakings, policies and law of the State; as well as regimes and professional regulations promulgated by the State Bank.

5. Controllers may report directly to the Director of the General-Control Department or the State Bank Governor when they deem it necessary.

Article 11.- Interests of controllers

1. The State Bank’s controllers shall be entitled to preferential regimes and policies and equipped with professional technical facilities according to regulations applicable to State employees, as well as necessary means in service of their internal control and audit activities.

2. The State Bank’s controllers shall enjoy monthly responsibility allowances as provided for by the State.

3. The State Bank’s controllers shall be professionally trained and fostered.

4. The State Bank’s controllers who are qualified and meet all prescribed conditions shall be allowed to sit for controller rank promotion examinations according to regulations of the State and the State Bank Governor.

Chapter IV

COMMENDATION, REWARDS AND DISCIPLINE

Article 12.- The State Bank’s controllers who have recorded achievements in the internal control and audit activities shall be commended and/or rewarded according to regulations of the State and the State Bank.

Article 13.- The State Bank’s controllers who, while performing their tasks, show signs of irresponsibility, fail to promptly detect or cover up organizations and/or individuals that violate laws, mechanisms and regimes of the State and the State Bank, thus causing damage to the State’s property shall, depending on the nature and seriousness of their violations, be disciplined, handled for administrative violations, compelled to make material damage compensations or examined for penal liability according to provisions of law.

Chapter V

IMPLEMENTATION PROVISIONS

Article 14.- Amendments and/or supplements to this Regulation shall be decided by the State Bank Governor.

State Bank Governor
LE DUC THUY